2021-09-30-accounts - The Needham Research Institute

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	Notes	2021		2020
		8
FIXBDASSBTS
Tanglblo assets Investments	12 13		1,126,161 16,158,541		1,149,640 13,566,504
TOTAL FIXEDASSETS			17,284,702		14,716,144
CURRENT ASSETS
Debtors Short term doposlts Cash at batdr and in hand	14	67,013 213,517		7,567 291,468 191,973
TOTAL CURRENT ASSETS		2801530		491,00&
LIABILITIES:
Creditors: Amounts falling due
within one year NET~ASSETS	15	(32,065)	248,465	(23,422)	417,586
TOTAL ASSETSLESSCURRENT
LIABILITIBS			17,533,167		15,133,730
Provisions for liabilities and oharges	16		(38,442)		(50,199)
TOTAL NBTASSETS			17,494,725		15,083,531
THE FUNDS OF THE CHARITY,'
Restrioted funds Endowment funds Unrostri oted firn de,'	17 18		2,593,253 10,833,466		2,202,791 9,467,799
Designated 1'ends Other oharltable funds	19 19	91,519 3,976,487	4,068,006	94,076 3,318,865	3,412,941
TOTAL CHARITY FUNDS			17,494,725		15,0&3,531

					2021	2020
					Total	Total
				Notes	Funds	Puudh
Cash flows from operating	activiticst'
Act cmh provided by (used	in) operating		uctlvlales	21	(164,551)	(277,055)
Cash flows from investing	actlvltlem
Investment income
Purchase oftangible lixed assets Purchase ofinvestmcut fixed assets Dlsposai ofinvestment fixod assets					364,023 (2,998) (2,101,579} 1,635,131	329,860 (9,952) (1,198,637) 1i318,777
I&etcosh provided by (used	in) lnvcrtlng		activities		(105,373)	440,048
Change I» cash and cash cfuivalcnts Cash and cash equivalents brought		ln the year forward			(269,924) 483,441	162,993 320,448
Cash and cash equivalents	carried forward				213,517	483,441

FINANC	IA	STATEMBNTS FOR THE YEAR	ENDED 30TH SEPTBM	BER2021
NOTES	TO	THE FINANCIAL STATBMENTS
2,		INCOME FROM DONATIONS POR THE YEAR ENDED 30TH	AND LEGACIES SBPTEMBER2021	Unrestrlctod Funds	Restricted Punds	Endowment Funds	2021 Total
		Donations Gilt Aid		229,893	6 6,703 1,250		6 236,596 1,250
				229,893	7,953		237,846
		INCOME FROM DONATIONS AND LEGACIES FOR THE YEARENDBD 30TH SBPTBMBER2020		Unrestricted Funds	Restricted Funds	Endowment Punds	2020 Total
					f.
		Donations Gill Aid		6,453	14,100 1,250		20,553 1,250
				6,453	15,350		21,803
		INCOME PROM CHARITABLE ACTIVITIBS YEAR ENDED 30TH SBPTBMBER2021		Unrestdoted Funds	Rcstrfoted Punds	Endowment Pucds	2021 Total
		Grants			f, 190,327	'f	190,327
		INCOME FROM CHARITABLE ACTIVITIES YEAR ENDED 30TH SEPTEMBER2020		Unrestricted Funds	Restrloted Pur? Cls	Endowment Funds	2020 Toad
						f.	5
					189,660		189,660
		INCOME FROM INVESTMENTS YEAR.ENDED 30TH SEPTBMBERZ021		Unrestricted Funda	Restricted Funds	Endowment Punds	2021 Toml
		Interest receivable Dividends reocivablc Rents rocclvable (No 2 Sylvester Roadi		6 28 41,931 32,194	55,053	234,817	f 28 331)801 32,194
				74,153	55,053	234,817	364,023
		INCOMB FROM INVBSTMENTS YEAR ENDED 30TH SEPTEMBER2020		Unrestricted Funds	Restricted Funds	Endowment Funds	2020 Total
				f.
		Interest receivable Dividends receivable Rents receivable (No 2 Sylvester Road)		3,169 67,183 32,111	49,285	178,112	3,169 294,580 32,111
				102,463	49,285	178,112	329,860
5		INCOMB FROM OTHER YEAR ENDFD 30TH SBPTBMBBR2021		Umestrictod Funds	Restrioted I'unde	Endowment Funds	2021 Total
		Royalties Sundry		7,820 862	43		7,820 905
				8,682	43		8,725
		INCOME FROM OTHER YEAR ENDED 30TH SBPTElvIBER2020		Urlf est?Iota?i Ftmds	Restricted Funds	Bndowment Funds	2020 '1'otol
		Royalties Sundry Govornment Grants		16,324 258 1,312	1,172		f, 16,324 1,430 1,312
				17,894	1,172		19,066

EXPENDITURE ON'.	EXPENDITURE ON'.
RAISING FUNDS				Unrestricted	Rostrlcted	Endowment	2021
YEAR ENDED 30TH SEPTEMBBR2021				Funds	Funds	Punds	Total
Fundralsing ccats
EXPBNDITURE ON,	'
RAISING FUNDS				Unrcstrloted	Restricted	Endowmont	2020
YEAR ENDED 30TH SEPTEMBER2020				Punds	Funds	Punds	Total
					6	6
Fundraising costs					691		691
CHARITABLE ACTIVITIES				Unrestricted	Rrstrlctod	Endowment	2021
YEAR ENDED 30TH SEPTEMBER2021				Funds	Funds	Funds	Total
						f,
Aosdemlc and related	costs			169,610	101,874		271,484
Bstablhhment costs				61454		16,770	78,024
OIEoe and support costs				146,926	11,387		158,313
Govemanoe costs				7,390	155		7,545
				385,180	113,416	16,770	515,366
ANALYSIS OP EXPENDITURB			ON CHARITABLE	Unrestricted	Restricted	Bndowment	2021
ACTIVITIES YBAR ENDED 30TH SEPTEMBER2021				Funds	Funds	Funda	Total
Academic and related	costa			8		8	6
Salari as (aoademlo)				85,193	57,780		142,973
Sslsrlcs (librmtan)				63,732	26,691		90,423
Research grants					14,500		14,500
Books and poblioations				4,936	1,680		6,616
Travel and aocoinmodstion				55			55
Computer costs				9,327			9,327
Telephone, postage and photocopying				3,373			3,373
Other (inoL leoture and exhibition			expenses)	2,994	1,223		4,217
				169,610	101,874		271,484
Establishment costs
Rates				12,186			12,186
Insuranoe				14,947			14,947
Repairs and malntenanoe				9,658			9,658
Water, light snd heat				7,410			7,410
Clean!ng				8,348			8,348
Gardening ond grounds				8,670			8,670
Ground rent				35			35
Depreciation						16,770	16,770
Offic sod support costs				61,254		16,770	78,024
Other salaries				65,946			65,946
Depreoiation				8,483	1424		9,707
Printing ond stationery				877	282		1,159
Entettainlng				199			199
Invcstmont broker charges				71,445	9,881		81,326
Foreign exohangc gain				(24)			(24)
				146,926	11,387		158,313
Governsnco costs
Audit snd ncccuntancy				6,196			6,196
Other legal and professional		fees		1,194	155		1,349
				7,390	155		7,545
				385,180	113,416	16,770	515,366

EXPENDITURE ON,'
CHARITABLE ACTIVITIBS			Unrestricted	Rosttioted	Endowmerrt	2020
YEAR ENDBD 30TH SBPTEMBER2020			Funds	Funds	Funds	Total
					8
Acadmnic and related costs			182,062	202,120		384,182
Establishment costs Of&co and support costs			59,544 150,482	1,288 19,181	16,770	77,602 169,663
Governanoe oosts			6,062	300		6,362
			398,150	222,889	16,770	637,809
ANALYSIS OF EXPENDITURE		ON CHARITABLE	Unrestricted	Restricted	Endow?cent	2020
ACTIVITIES YEAR BNDBD 30TH SEPTBMBBR2020			Funds	Funds	Funds	Total
Acadendc and related costs				6
Salaries (aoadcmlo) Salmire (librarian) Research grants Books and publications Travel and aoconunodation Computer coats Telephone, postage and photocopying Other (Incl. lecture and exhibition oxpenses)			98,054 64,335 6,095 938 6,832 3,774 2,034	68,445 26,676 84,220 2,036 7,765 66 12,912		166,499 91,011 84,220 8,131 8,703 6,832 3,840 14,946
Establishment costs			182,062	202?120		384,182
Rates			12,110			12,110
Insurance Repairs and maintenance Water, light and host Cleaning Gardening and grounds			14,404 10,978 6,964 7,000 8,053	1,288		14,404 12,266 6,964 7,000 8;053
Ground rent			35			35
Depreciation					16,770	16,770
Office and supper& costs			59,544	1,288	16,770	77,602
Other salaries Depreciation Printing and statlonory Bntertaining			70,262 8,528 981 446	1,224 3,097 1,403		70,262 9,752 4,078 1,849
Investment broker charges			70,282	13,457		83,739
Foreign exohangc gains			(17)			(17)
Governance costs			150,482	19,181		169,663
Aud It ond accountancy			5,&96			5,896
Other legal and professional	fees		166	300		466
			6,062	300		6,362
			398,150	222,889	16,770	637,809

NET INCOME FOR THE YEAR.	NET INCOME FOR THE YEAR.		2021	2020
This is stated after chargingl
Auditors remuneration	~ external	audit	6,196	5,896
	-non audit	services
Depreciation oftangible fhed	sssots		26,477	27,062

The average number ofstaff employed, anaiysed by funct	ion, eanployed during the year were.
	2021	2020
	Number	Number
Aoademic	7	7
Administration
	3	2
Establlsbrnent	I	I
	11	10

	to its charitable objsots, No tax charges have arisen in the	year.		app	e
12.	TANGIBLE FIXEDASSETS YEAR ENDED 30TH SEPTEMBER2021	Lang Leasehold	Fixtures & Fittings	Equipment &Sofhvare	Total
			6		f
	COST
	Balance at 1st October 2020 Additions	1,626,664	70,813	25,424 2,998	1,722,901 2,998
	Balanoe at 30th September 2021	1,626,664	70,813	28,422	1,725,899
	DEPRECIATION
	Balance at 1st October 2020 Charge for the year	503,018 16,770	51,675 5,720	18,568 3p987	573,261 26,477
	Balance at 30th Septelnber 2021	519,788	57,395	22,555	599,738
	NETBOOK VALUE as at 30th September 2021	1,106,876	13,418	5,867	1,126,161

12,	TANGIBLE FKBDASSETS		Long	Fixtures &	Bqulpment
	YEAR ENDED 30TH SEPTEMBER 2020		Leasehold	Fittings	&Software	Total
			f
	COST
	Balanoe at 1st Octobor 2p19		1,626,664	62483	23,902	1,712,949
	Additions			8,430	1,522	9,952
	Balanoe at 3Pth Septomber 202P		1,626,6(i4	70,813	25,424	1,722,901
	DBFRBCIATION
	Balance at 1st Octobor 2p19		486,248	4$,731	14420	546,199
	Charge for tho year		16,770	5,944	4,348	27,062
	Balance at 30th Soptember 2020		503,018	51,675	18,568	573,261
	NET BOOK VALUE ns at 30th September 2020		1,123,646	19,138	6,856	1,149,640
13.	INVESTMENT FIXEDASSETS		2021		2020
				Market		Market
			Cost	Value	Cost	Value
					f	f
	Investment properties - long leasehold		111,548	1,200,000	111,548	1,200,000
	Listed investments		9,704,7II	14,835,338	8,534,567	12,123,327
	Capital account		123,203	123,203	243,177	243,177
			9,939,462	16,158,541	8,889,292	13,566,504
	Mnrkot value et 1st Octobor			13,323,327		13,187,275
	Listed investments acquired			2,101,529		1,198,637
	Listed investments disposed			(1,5 15, 157)		(1,516,550)
	Realised (losses)/gains			(7S,758)		(202,500)
	Gains/(losses) on revaluations	at 30th September		2,201,397		656,465
	Market value at 30th September			16,035,338		13323,327

	No listed investtncnt,	No listed investtncnt,	excluding
14,	DBBTORS			?021	2020
	Due within one yenr:			f	f
	Prepaymonts	and acorued Income		1,709	7,567
	Other debtors			6$,304
				67,013	7,$67
15.	CREDITORS			2021	2020
	Due within one year,
	Trnde oreditors			54	56
	Accruals nnd	deferred	income	29,986	71,341
	Deposit held			2,025	2,025
				32,065	73,422

PROVISIONS FORLIABILITIES	PROVISIONS FORLIABILITIES
		2021
Balance at 1st October 2020
Provision	identified in the year	50,199
Movement	In provision
Balance at 30th September 2021		(11,757)
		38,442
PROVISIONS FOR LIABILITIES
		2020
Balance at 1st Ootober 2019
Provision	identified in the year	53,131
Movement	In provision	1,594
		(4,526)
Ba!ance at	30th September 2020
		50,199

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18,	ENDOWMENT PUNDS YEAR ENDBD 30TH SEPTEMBER2021	Balance B/Fwd.	Income	Expenditure	Revaluation Gains f	Transfers	Balance C/Fwd,
	Building Fund Building Fund (South Wing) Endowment Fund Endowment Fund Library Joseph Ncodharn Esmte	715,907 460,076 7,784,077 21,850 485,889	234,817	(10,650) (6,120)	1,382,437	(234,817)	705,257 453,956 9,166,514 21,850 48S,889
		9,467,799	234,817	(16,770)	1,382,437	(234,817)	10,833,466

UNRESTRICTED FUNDS YEAR ENDED 30TH SBPTEMBER2020	Belanoe B/Pwd, f,	Incorue	Expenditure	Revaluation Gains	Transfers f	Balanco C/Fwd,
Designated fuads;
Building repairs fund Computer and equipmcut	24,000				4,000	28,000
fund Library Special Fund	27)143 35,199	191	(2,992)	1,535	5,000	27,143 38,933
	86,342	191	(2,992)	1,535	9,000	94,076
Other charitable funds	3,280,621	126,619	(395,158)	117,881	188,902	3,318,865
	3,366,963	126,810	(398,150)	119,416	197,902	3,412,941

ANALYSIS OF NBTASSETSBBTWEBN FUNDS YEAR ENDED 30TH SEPTElvlEER 2021 Unrestrloted	ANALYSIS OF NBTASSETSBBTWEBN FUNDS YEAR ENDED 30TH SEPTElvlEER 2021 Unrestrloted	ANALYSIS OF NBTASSETSBBTWEBN FUNDS YEAR ENDED 30TH SEPTElvlEER 2021 Unrestrloted	ANALYSIS OF NBTASSETSBBTWEBN FUNDS YEAR ENDED 30TH SEPTElvlEER 2021 Unrestrloted	Restricted	Endowment	2021 Total
			Funds	Funds	Funds	Funds
Fund balanoes at 30th September Tangible fixed assets Investment fixed assets Debtors Cash at bank and in hand Currant liabilitlos Provisions for liabilities	are	represented	by„ 11,781 4,107,610 62,130 (43,008) (32,065) (38,442)	7,504 2,355,806 4,883 225,060	1,106,876 9,695,125 31,465	1,126,161 16,158,541 67,013 213,517 (32,065) (38,442)
Net assets			4,068,006	2,593,253	10,833,466	17,494,725
ANALYSIS OP NET ASSETSBETWBBNFUNDS YEAR ENDED 30TH SEPTEMBER 2020 Unrestrlctod				Restricted	Endowment	2020 Total
			Funds	Funds	Punds	Funds
Fund balances at 30th September	are reprosonted		by, ,
Tangible flxed assets Investment fixe assets Dobtors Cash at bank and in hand Current liabilities Provisions for liabilities			16,185 3,558,565 7,567 (45,755) (73,422) (50,199)	9,809 1,868,037 324,945	1,123,646 8,139,902 2042.51	1,149,640 13,566,504 7,567 483,441 (73,422) (50,199)
Not assets			3,412,941	2,202,791	9,467,799	15,083,531
RECONCILIATION QFNET MOVEMENT IN			FUNDS TO NET CASH FLOW	FROM OPERATING ACTIVITIES
					2021	2020
Net movement in t'ends Add: Depreciation Less, Investment incomo					2,411,194 26,477	375,854 27,062
Less,' Gains on investments Decrease/(lnorease) in debtors Increase/(decrease) ln oreditors ((Decreaso)/fnoresse in provisions					(364,023) (2,125,639) (59,446) (41,357) (11)757)	(329,860) (453,965) 74,625 32,161 (2,932)
Net cash provided by (used in) operating		activities			(164,551)	(277,055)

	2019	2018
Males oun ently aged 65 (years)	24,6	24,5
Pemalcs currently aged 65 (years)	26.1	26,0
Malos currently aged 45 (years)	26,6	26.5
Females currently aged 45 (yesrs)	27.9	27,8